First Quantum Minerals (OTCMKTS:FQVLF) Stock Price Crosses Below 50 Day Moving Average – What’s Next?

First Quantum Minerals Ltd. (OTCMKTS:FQVLF)’s stock price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $21.13 and traded as low as $21.06. First Quantum Minerals shares last traded at $21.3101, with a volume of 382,137 shares trading hands.

Analysts Set New Price Targets

A number of analysts have weighed in on FQVLF shares. BMO Capital Markets restated an “outperform” rating on shares of First Quantum Minerals in a research report on Wednesday, October 29th. Barclays reaffirmed an “overweight” rating on shares of First Quantum Minerals in a research note on Monday, July 28th. Scotiabank reiterated a “sector perform” rating on shares of First Quantum Minerals in a report on Tuesday, October 28th. Raymond James Financial reaffirmed a “market perform” rating on shares of First Quantum Minerals in a research report on Friday, October 10th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of First Quantum Minerals in a research note on Friday, July 25th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

First Quantum Minerals Trading Down 3.2%

The firm has a market cap of $17.78 billion, a P/E ratio of 426.29 and a beta of 1.47. The firm has a fifty day simple moving average of $21.13 and a 200-day simple moving average of $17.85. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.00 and a quick ratio of 1.00.

First Quantum Minerals (OTCMKTS:FQVLF) last posted its earnings results on Tuesday, October 28th. The basic materials company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.10). First Quantum Minerals had a net margin of 0.92% and a return on equity of 0.29%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.47 billion. On average, equities research analysts expect that First Quantum Minerals Ltd. will post 0.03 earnings per share for the current year.

First Quantum Minerals Company Profile

First Quantum Minerals Ltd., together with its subsidiaries, engages in the exploration, development, and production of mineral properties. It primarily explores for copper, nickel, pyrite, silver, gold, and zinc ores, as well as produces acid. The company has operating mines located in Zambia, Panama, Finland, Turkey, Spain, Australia, and Mauritania, as well as a development project in Zambia.